According to the New Housing Construction Cost Index (ICCHN), measured by the National Statistics Institute (INE), the price of materials and the cost of labour showed, respectively, year-on-year variations of 20.5% and 5.8%, respectively.
The year-on-year increase in the ICCHN recorded in April is the highest since January 2001, according to data from the series provided by the statistical institute, this being the second consecutive month with a double-digit rise.
The cost of materials contributed 11.9 p.p. for the formation of the year-on-year rate of change of the ICCHN (8.9 p.p. in March), INE indicates, adding that “the labour component reduced its contribution to 2.4 p.p. (2.7 p.p. in the previous month)”.